Civic Intelligence

Abilene Industrial Foundation

990 • Fiscal year 2024 • EIN 75-6035743

Oct 01, 2023 to Sep 30, 2024 • Filed on Jul 14, 2025

Organization ProfileGrowAbilene.com
PO Box 2281Abilene, TX 79604

(325) 673-7349

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

31st percentile

0.05x

Higher debt load relative to assets than 31% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

52nd percentile

0.19x

Higher debt load relative to revenue than 52% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

1st percentile

-61%

Higher net margin than 1% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

91st percentile

$333,386

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 74.5% of source-year revenue.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2024

Asset Growth

10th percentile

-13%

Faster asset growth than 10% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

2nd percentile

-41%

Faster revenue growth than 2% of similar nonprofits.

2024 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$1,824,196

Down $273,389 (-13%) from 2023

Net Assets

Down

$1,740,028

Down $273,823 (-14%) from 2023

Liabilities

Up

$84,168

Up $434 (+0.5%) from 2023

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin1st percentile

Revenue

Down

$447,631

Down $311,224 (-41%) from 2023

Expenses

Up

$721,454

Up $58,022 (+8.7%) from 2023

Net Income

Down

-$273,823

Down $369,246 (-387%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $374,273Liabilities 2011: $02011Assets 2012: $402,653Liabilities 2012: $02012Assets 2013: $519,866Liabilities 2013: $83,886Net Assets 2013: $435,9802013Assets 2014: $547,753Liabilities 2014: $113,728Net Assets 2014: $434,0252014Assets 2015: $493,465Liabilities 2015: $56,872Net Assets 2015: $436,5932015Assets 2016: $531,158Liabilities 2016: $140,079Net Assets 2016: $391,0792016Assets 2017: $434,176Liabilities 2017: $97,179Net Assets 2017: $336,9972017Assets 2018: $418,636Liabilities 2018: $72,627Net Assets 2018: $346,0092018Assets 2019: $409,065Liabilities 2019: $71,161Net Assets 2019: $337,9042019Assets 2020: $345,740Liabilities 2020: $42,797Net Assets 2020: $302,9432020Assets 2021: $610,185Liabilities 2021: $139,162Net Assets 2021: $471,0232021Assets 2022: $2,100,803Liabilities 2022: $182,310Net Assets 2022: $1,918,4932022Assets 2023: $2,097,585Liabilities 2023: $83,734Net Assets 2023: $2,013,8512023Assets 2024: $1,824,196Liabilities 2024: $84,168Net Assets 2024: $1,740,0282024

Highlighted filing

2024

Assets$1,824,196
Liabilities$84,168
Net Assets$1,740,028
Open 2024 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $62,360Expenses 2011: $55,377Net Income 2011: $6,9832011Revenue 2012: $73,734Expenses 2012: $45,354Net Income 2012: $28,3802012Revenue 2013: $710,590Expenses 2013: $676,661Net Income 2013: $33,9292013Revenue 2014: $857,901Expenses 2014: $859,856Net Income 2014: -$1,9552014Revenue 2015: $476,421Expenses 2015: $473,853Net Income 2015: $2,5682015Revenue 2016: $563,737Expenses 2016: $609,251Net Income 2016: -$45,5142016Revenue 2017: $580,120Expenses 2017: $634,202Net Income 2017: -$54,0822017Revenue 2018: $673,863Expenses 2018: $664,851Net Income 2018: $9,0122018Revenue 2019: $811,571Expenses 2019: $819,676Net Income 2019: -$8,1052019Revenue 2020: $649,352Expenses 2020: $684,313Net Income 2020: -$34,9612020Revenue 2021: $742,424Expenses 2021: $574,344Net Income 2021: $168,0802021Revenue 2022: $2,269,166Expenses 2022: $821,696Net Income 2022: $1,447,4702022Revenue 2023: $758,855Expenses 2023: $663,432Net Income 2023: $95,4232023Revenue 2024: $447,631Expenses 2024: $721,454Net Income 2024: -$273,8232024

Highlighted filing

2024

Revenue$447,631
Expenses$721,454
Net Income-$273,823
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jul 14, 2025
Return Version
2023v6.0
Gross Receipts
$447,631
Mission and Program Overview

Mission

The mission of the Abilene Industrial Foundation is to promote the growth, development, and diversity of the economy in and around Abilene, Texas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$548,755$750,620▲ $201,865
Pledges and Grants Receivable$481,934$439,245▼ $42,689
Savings and Temporary Cash Investments$129,809$132,120▲ $2,311
Prepaid Expenses and Deferred Charges$12,556$23,867▲ $11,311
Land, Buildings, and Equipment, Net$9,523$5,449▼ $4,074
Accounts Receivable$87,636$136▼ $87,500
Total Assets$2,097,585$1,824,196▼ $273,389
Other Assets Total$827,372$472,759▼ $354,613
Liabilities
Accounts Payable and Accrued Expenses$81,941$77,638▼ $4,303
Deferred Revenue-$6,530-
Other Liabilities$1,793--
Total Liabilities$83,734$84,168▲ $434
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,309,306$912,004▼ $397,302
Net Assets Without Donor Restrictions$704,545$828,024▲ $123,479
Total Net Assets Fund Balance$2,013,851$1,740,028▼ $273,823
Total Liabilities and Net Assets / Fund Balance$2,097,585$1,824,196▼ $273,389

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,449$22,359$27,808
Other Assets Org$472,759--
Compensation and Service Providers
Top Officer Pay91st percentile

Board Members and Trustees

NameTitle
Shaun MartinChair
Will DuggerChair Elect
Gary GrubbsPast Chair
Doug PetersPresident
Greg BlairDirector
Larry GillDirector
Michael B StarrDirector
Scott HibbsDirector
Ted EvansSecretary-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$63,634
Program Service Revenue
$367,886
Investment Income
$16,111
Other Revenue
$0
All Other Contributions
$63,634
Change in Net Assets
$-273,823

Audited Revenue Reconciliation

Revenue per Audited Statements
$447,631
Total Revenue per Audited Statements
$447,631
Total Revenue per Form 990
$447,631
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$484,412
Salaries, Compensation, and Employee Benefits$237,042
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$352,308
Other Salaries and Wages---$200,416
Travel---$25,149
Occupancy---$19,616
Advertising---$16,866
Fees for Services Accounting---$15,150
Payroll Taxes---$14,859
Pension Plan Contributions---$13,408
Information Technology---$10,874
Other Employee Benefits---$8,359
Other Expenses$5,555--$5,555
Conferences and Meetings---$5,125
Depreciation Depletion---$4,073
Office Expenses---$3,224
All Other Expenses---$2,244
Interest---$17
Total Functional Expenses$0$0$0$721,454

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$721,454
Total Expenses per Audited Statements$721,454
Total Expenses per Form 990$721,454
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Management duties delegation Part VI line 3

“The fiduciary responsibilities of the Abilene Industrial Foundation (AIF) have been outsourced to Abilene Chamber of Commerce (ACOC). All employees of the AIF are paid by ACOC and their payroll taxes and W-2s are issued under ACOCs EIN (75-0101260).”

Form 990 governing body review Part VI line 11

“The Executive Committee of the Board of Directors authorized the officers of the organization to review and approve the Form 990 before submission to the Internal Revenue Service.”

Governing documents etc available to public Part VI line 19

“Governing documents, conflict of interest policies, the Form 990, and financial statements of the Abilene Industrial Foundation will be provided upon request. Requests are referred to the Chief Financial Officer for the Abilene Chamber of Commerce.”

Filing and Contact Details

Filer

Filer Name
Abilene Industrial Foundation
EIN
75-6035743
Address
PO Box 2281, Abilene, TX 79604
Doing Business As
Abilene Regional Growth Allian

Signing Officer

Name
Doug Peters
Title
President
Phone
3256737349
Signed
2025-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Peters
Formed
1962
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
75

Preparer

Firm
Roberts & McGee CPA
Address
104 Pine Street Suite 710, Abilene, TX 79601
Preparer
Stacey McGee
Phone
3257019502
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Other Fees for Services include: Engineering/Surveying $5,700, market research services $31,690, governmental affairs $66,000, website development $19,394, marketing $33,832, videography/photography services $29,229, business development services $52,666, speakers fee $5,297, administrative fees of $108,000 and graphic design $500.”

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Long term pledges receivable
IRS990ScheduleD/RevenueSubtotalAmt0447631
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05449
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IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0244329
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt018443
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt030614
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Doug Peters
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0333386
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Compensation committeeWritten employment contract
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0No written policy information (Part I, line 1b)
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The fiduciary responsibilities of the Abilene Industrial Foundation (AIF) have been outsourced to Abilene Chamber of Commerce (ACOC). All employees of the AIF are paid by ACOC and their payroll taxes and W-2s are issued under ACOCs EIN (75-0101260).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Executive Committee of the Board of Directors authorized the officers of the organization to review and approve the Form 990 before submission to the Internal Revenue Service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents, conflict of interest policies, the Form 990, and financial statements of the Abilene Industrial Foundation will be provided upon request. Requests are referred to the Chief Financial Officer for the Abilene Chamber of Commerce.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Other Fees for Services include: Engineering/Surveying $5,700, market research services $31,690, governmental affairs $66,000, website development $19,394, marketing $33,832, videography/photography services $29,229, business development services $52,666, speakers fee $5,297, administrative fees of $108,000 and graphic design $500.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Management duties delegation Part VI line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Abilene
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01740028
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt075
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IRS990/WebsiteAddressTxt0GrowAbilene.com
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Doug Peters
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ReturnHeader/BusinessOfficerGrp/PhoneNum03256737349

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,824,196
Liabilities
$84,168
Net assets
$1,740,028
Revenue
$447,631
Expenses
$721,454
Net income
-$273,823
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.82$0.08$1.74$0.45$0.72$0.27
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.10$0.08$2.01$0.76$0.66$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$0.18$1.92$2.27$0.82$1.45
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$0.14$0.47$0.74$0.57$0.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.04$0.30$0.65$0.68$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.07$0.34$0.81$0.82$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.07$0.35$0.67$0.66$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.10$0.34$0.58$0.63$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.53$0.14$0.39$0.56$0.61$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.49$0.06$0.44$0.48$0.47$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.55$0.11$0.43$0.86$0.86$0.00
2013Summary only. Only limited summary data is available for this year.$0.52$0.08$0.44$0.71$0.68$0.03
2012Summary only. Only limited summary data is available for this year.$0.40$0.00$0.07$0.05$0.03
2011Summary only. Only limited summary data is available for this year.$0.37$0.00$0.06$0.06$0.01